Net Operating Assets

Finance

Calculate NOA (Net Operating Assets) from balance sheet. Formula: NOA = (Current Assets - Current Liabilities) + (Fixed Assets - Accumulated Depreciation) - Non-Operating Items

Formula

NOA = (CA - CL) + (FA - AccumDep)

CA=$500M, CL=$200M, FA=$1000M, Dep=$200M

Inputs
  • Current Assets ($M): 500
  • Current Liabilities ($M): 200
  • Fixed Assets ($M): 1000
  • Accumulated Depreciation ($M): 200

NOA = $300 + $800 = $1,100M

Frequently asked questions

Why NOA?
Shows assets deployed in operations; used for ROIC and valuation